Aurinia Pharmaceuticals Inc (NASDAQ:AUPH) Director Kevin Tang Acquires 1,000,000 Shares

Key Points

• Kevin Tang, a director at Aurinia Pharmaceuticals, acquired 1,000,000 shares of the company's stock at an average price of $10.12, increasing his total holdings to 11,029,500 shares valued at approximately $111.6 million.
• Aurinia Pharmaceuticals' stock saw a rise of 2.2%, reaching $11.70, following a quarter where the company reported $70.01 million in revenue but missed earnings expectations with $0.16 per share.
• Institutional investors own 36.83% of Aurinia Pharmaceuticals, with several hedge funds recently increasing their stakes in the company.

Aurinia Pharmaceuticals Inc (NASDAQ:AUPH - Get Free Report) TSE: AUP Director Kevin Tang purchased 1,000,000 shares of the business's stock in a transaction that occurred on Friday, August 1st. The stock was acquired at an average price of $10.12 per share, for a total transaction of $10,120,000.00. Following the acquisition, the director directly owned 11,029,500 shares of the company's stock, valued at $111,618,540. This trade represents a 9.97% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this link.

Kevin Tang also recently made the following trade(s):

• On Tuesday, August 5th, Kevin Tang acquired 200,000 shares of Aurinia Pharmaceuticals stock. The shares were purchased at an average price of $11.68 per share, for a total transaction of $2,336,000.00.
• On Monday, August 4th, Kevin Tang acquired 100,000 shares of Aurinia Pharmaceuticals stock. The shares were purchased at an average price of $11.34 per share, for a total transaction of $1,134,000.00.

Aurinia Pharmaceuticals Stock Up 2.2%

Shares of AUPH stock traded up $0.25 during mid-day trading on Tuesday, reaching $11.70. 3,144,408 shares of the company were exchanged, compared to its average volume of 1,573,970. Aurinia Pharmaceuticals Inc has a fifty-two week low of $5.20 and a fifty-two week high of $11.80. The company has a debt-to-equity ratio of 0.18, a quick ratio of 4.63 and a current ratio of 5.23. The company has a market capitalization of $1.54 billion, a P/E ratio of 27.21 and a beta of 1.23. The business's 50 day simple moving average is $8.49 and its 200 day simple moving average is $8.18.

Aurinia Pharmaceuticals (NASDAQ:AUPH - Get Free Report) TSE: AUP last released its quarterly earnings results on Thursday, July 31st. The biotechnology company reported $0.16 earnings per share for the quarter, missing analysts' consensus estimates of $0.17 by ($0.01). Aurinia Pharmaceuticals had a return on equity of 20.06% and a net margin of 23.31%. The company had revenue of $70.01 million for the quarter, compared to analyst estimates of $64.27 million. Research analysts predict that Aurinia Pharmaceuticals Inc will post 0.11 earnings per share for the current year.

Hedge Funds Weigh In On Aurinia Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the business. Nuveen LLC acquired a new position in shares of Aurinia Pharmaceuticals during the first quarter valued at $10,014,000. Tang Capital Management LLC boosted its holdings in shares of Aurinia Pharmaceuticals by 16.6% during the fourth quarter. Tang Capital Management LLC now owns 8,429,500 shares of the biotechnology company's stock valued at $75,697,000 after acquiring an additional 1,200,000 shares during the period. Arrowstreet Capital Limited Partnership acquired a new position in shares of Aurinia Pharmaceuticals during the fourth quarter valued at $9,662,000. Point72 Asset Management L.P. acquired a new position in shares of Aurinia Pharmaceuticals during the fourth quarter valued at $7,630,000. Finally, Jupiter Asset Management Ltd. acquired a new position in shares of Aurinia Pharmaceuticals during the first quarter valued at $6,052,000. Institutional investors and hedge funds own 36.83% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on AUPH. HC Wainwright reiterated a "buy" rating and set a $17.00 price objective on shares of Aurinia Pharmaceuticals in a research note on Wednesday, July 30th. Royal Bank Of Canada lifted their price objective on shares of Aurinia Pharmaceuticals from $8.00 to $9.00 and gave the company an "outperform" rating in a research note on Friday.

About Aurinia Pharmaceuticals

Aurinia Pharmaceuticals Inc, a commercial-stage biopharmaceutical company, focuses on developing and commercializing therapies to treat various diseases with unmet medical need in the United States. It offers LUPKYNIS for the treatment of adult patients with active lupus nephritis. It has a collaboration and license agreement with Otsuka Pharmaceutical Co, Ltd.

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